Breaking News – Elliott Associates takes activist stake in AT&T (T) and it is now up 10% this morning.

Corporate Actions 

IPOs on deck: None of note.

IPOs Filed:  ADC Therapeutics (ADCT) files after the close.

Secondaries on deck:   None of note.

Notes Priced: PNFP of note.

Common Stock filings:  DBVT of note.

Mixed Shelf Offerings filed: CHMA LYTS of note.  

Convertible Offering Files: None of note.

Senior Notes Filed: CQP of note.

Courtesy of IPO Financial

Earnings After The Close: 

Beat:

None of note.

Flat:

Missed:

None of note.

News After The Close: (In time order after the close)

Cloud stocks Domo (DOMO), Crowdstrike (CRWD), PagerDuty (PD) and Zoom (ZM) all struggled on Friday indicated the move may be over in these names.

Spirit (SAVE) updated guidance due to Hurricane Dorian as 768 flights were cancelled.

Rayonier (RYAM) suspends quarterly dividend.

Yum China (YUMC) names Ka Wai Andy Yeung as new CFO 10/16.

Concrete Pumping (BBCP) lowers guidance and delays earnings by a week to 9/26.

Alphabet (GOOGL) received a civil investigative demand on 8/30 from the DOJ requesting information from prior antitrust investigations.

Science Applications (SAIC) wins $950 million Defense Logistics Agency contract.

New additions to S&P 400 SIGI RGEN FCFS ETSY PPC KAR AM OC PEN.

New additions to S&P 600 SIG RRC TUP MIK QEP VAL MDR HCC CADE GCP.

Removals from S&P 400 CARS MNK.

Removals from S&P 600 KIRK NLS LKSD ASNA SPN KOPN.

Stock Repurchase: 

Dividend Increase: RCL

Dividend Decrease: MITT

Early Morning Gap Up/Down: (>4% or <-4%)

Gap Higher: CYOU +60% T +10%.

Gap Lower: AMGN -4%.

What’s Happening This Morning: Futures value reflects the change with fair value. We will still indicate the fair value direction.  

S&P 500 +11 Dow Jones Industrial Average +66 NASDAQ +23 Russell 2000 +6. Fair values are lower except for the Russell 2000.

Gold and silver higher  with copper lower. WTI Crude Oil  and Brent Oil Futures higher. Natural Gas is higher. $ is lower vs Euro, lower vs Pound and higher vs Yen. US 10 year Treasury price is at $131.08 with yields at 1.593%. Prices as of 8:45 a.m. EDT.

Positive Sectors On Friday: Industrials, Consumer Goods, Financials and Healthcare.

Negative Sectors On Friday: Utilities. Conglomerates and Technology.

One Month Winners: Utilities, Consumer Goods, Services and Technology.

Three Month Winners: Conglomerates,  Consumer Goods, Technology, Services and Utilities.

Six Month Winners: Consumer Goods. Utilities, Conglomerates and Services.

Twelve Month Winners: Utilities, Technology, Consumer Goods and Services.

Year to Date: Conglomerates, Technology, Services, Consumer Goods and Industrials.

Hourly Action This  Week:

Updated through Friday close.

Courtesy of Quantitative Partners, Inc.

Upcoming Earnings Of Note (sorted by market cap, highest to lowest)

Today After The Close: CTRP CASY PHR AGX of  note.

Tuesday Before The Open: HDS of note.

Earnings This Morning Of Note  

Beat: 

None of note.

Missed:

None of note.

 Yet to Report: 

Rags & Mags: Highlighted Stories may be clicked through to the original story.

Wall Street Journal Main Headline: Private Data Show Sharper China Slowdown.

Top News Story: President Trump cancelled talks with Afghanistan and the Taliband. (NYT)

Five Things You Need To Know To Start Your Day. (Bloomberg)

Five Things To Know Before The Market Opens Today. (CNBC)

Stocks making the biggest moves. (CNBC)

House Democrats return to Washington D.C. this week and will have to decide whether to move on impeachment proceedings. (NYT)

Former South Carolina Governor and Representative Mark Sanford enters the Republican Presidential Race. (NYT)

70,000 people left homeless in the Bahamas from Hurricane Dorian. (CNN)

China added 100 tons of gold to their reserves this year. (Bloomberg)

Hong Kong protestors seek help from the U.S. over the weekend. (CNN)

U.S. officials charge a Chinese professor with fraud to benefit Huawei. (Reuters)

Apple (AAPL) and Foxconn (FXCNY) have violated Chinese labor rules related to temporary workers. (Bloomberg)

Data Points

Stock indexes are in good shape with the Russell 2000 and S&P 400 needing more work.

Bold means a change from prior day.

The advance/decline line moved to a buy on the close of 8/29. Updated through 9/6/19 close. Year to date model up 9.30% on the S&P 500. 4 buy signals and 3 cash signals in 2019. Cash has worked in August as we missed the volatility and now we are back to a buy.

Courtesy of Quantitative Partners, Inc.

YTD  59.66% (+2.66% week over week) of stocks are higher and 40.34% are lower. Updated 9/9/19 close with next update on 9/13/19 close.

Courtesy of Phil Erlanger Research, Inc.

Algo/HFT Trading Levels:

The Erlanger Value Lines track the intraday range of resistance, pivot and support used by Algo/HFT Traders. Each day we show where we closed within the range. Update through Friday’s close.

Courtesy of Phil Erlanger Research

The Value Lines may be accessed via Bloomberg. For a free trial if you are a Bloomberg user go to APPS CS:ERLA

Economic & Related:

None of note.

Geopolitical:

President Trump will head to North Carolina for a Keep America Great Rally tonight at 7:00 p.m. EDT.

Conferences & Analyst Meetings:   

Company Analyst Meetings and Conference Calls:  CR (Analyst Meeting)

Sellside Conferences: Barclays Global Financial Services Conference. Morgan Stanley Global Healthcare Conference. Rodman & Renshaw Healthcare Conference as well as their Global Investment Conference.  Janney Montgomery Healthcare Conference. Credit Suisse Basic Materials Conference.

Industry Conferences: Toronto Film Festival. GDS North America Digital Innovation Insight Summit.

M&A Activity:

Sohu.com (SOHU) offers to buy Changeyou.com (CYOU).

Upgrades & Downgrades: